Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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November 2016 | Seamless Steel Tube & Pipe


Seamless market recovery making slow gains: Americas Market Analysis


North American seamless OCTG demand continues to improve from the low levels experienced in the second quarter.

Demand continues to reach higher but price increases under pressure
Seamless OCTG pricing is moving in a narrow band along a price floor. Prices are now around $1,500/tonne for API 5CT J/K55 material at distributors. November prices are up slightly from October reflecting a modest demand improvement in the second half of the year as well as anticipated further gains in raw materials prices. Through October, scrap prices continued to undercut steel prices. Linepipe prices are unchanged this month on weak demand.

North American seamless OCTG demand continues to improve from the low levels experienced in the second quarter. Order books at domestic producers are stretching out into 2017 with Q3 shipments rising over Q2 and Q4 appearing stronger than Q3. Distributor inventories are beginning to come in line with demand as tonnage on hand declines and demand rises. The fundamentals are improving, but prices remain under...

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